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₹72 - 72 Amounts at the upper price band.
Papadmalji Agro Foods Ltd
FMCGIPOSME
₹72 - 72
In addition to in-house manufacturing, we also undertake white label manufacturing of Handmade Papads for clients, wherein products are produced by the Company and marketed by clients under their respective brand names and packaging, tailored to their target market. This combination of in-house and white label manufacturing enables the Company to leverage its production, optimize capacity utilization, diversify revenue streams and maintain consistent demand. At the same time, clients benefit by expanding their product portfolio without investing in manufacturing infrastructure, strengthening brand presence and ensuring product quality and reliability. Furthermore, the Company is engaged in the trading of Cereal Pellets where these products are sourced and traded by the Company under its own brand, complementing its manufacturing operations and providing an additional revenue stream.
Lot1,600Min Invest₹2,30,400Face Value₹10Issue Size₹20 CrFresh Issue₹19 CrOffer for Sale₹2 CrListing Price₹72CMP₹46
Timeline
29 Sept
Bidding opens
1 Oct
Bidding closes
5 Oct
Allotment
6 Oct
Refund & demat credit
7 Oct
Listing
Subscription · As of 7:00 PM, 1 Oct
Shares & amount
CategorySubscriptionShares OfferedShares BidAmt ₹ CrQIB86.8x30,66726.63 L19.18NII1.27x7.54 L9.57 L6.89Retail1.59x17.63 L28.06 L20.20Total2.46x28.03 L68.88 L47.52
Reports
Offer Details
Terms
Issue Size₹20 Cr0.28 Cr shares
Fresh Issue₹19 Cr
Offer for Sale₹2 Cr
Face Value₹10
Lot Size1,600 shares
ReservationQIB 1.2% · NII 29.6% · RETAIL 69.2%
Application Sizes
Retail₹2,30,4001-1 lots
sNII₹2,30,400from 2 lots
bNII₹10,36,800from 9 lots
Managers & Registrar
Lead ManagerKreo Capital Private Limited
RegistrarMas Services Limited
Ownership & Proceeds
Offer for Sale
Selling ShareholderShares OfferedAmt ₹ CrIndia Customer Insight FundOTH2,30,4001.66Total2,30,4001.66
Shareholding
CategoryPre IPOPost IPOPromoter Group60.98%44.28%Public39.02%55.72%
Objects of the Issue
- Funding the capital expenditure towards construction of building, mechanical and electrical works and procurement of plant and machinery and installation of 250 kW Rooftop Solar Power System
- Repayment or prepayment, in full or in part, of borrowings availed by the Company from banks
- General corporate purposes
Anchor Book
30-day lock-in03-Nov-202690-day lock-in02-Jan-2027
Financials
Profit & Loss
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| RevenueCr | 25 | 26 | 32 | 34 |
| Operating ProfitCr | 2 | 3 | 6 | 8 |
| OPM% | 6.4 | 12.6 | 18.8 | 25.2 |
| PBTCr | 0 | 2 | 5 | 7 |
| PATCr | 0 | 2 | 5 | 5 |
| EPS | 3 | 28 | 7 | 8 |
Balance Sheet
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Equity CapitalCr | 1 | 1 | 1 | 7 |
| ReservesCr | 3 | 5 | 10 | 9 |
| BorrowingsCr | 7 | 10 | 9 | 10 |
| Total AssetsCr | 14 | 20 | 25 | 34 |
Cash Flow
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Operating Cash FlowCr | 0 | -3 | 2 | 1 |
| Investing Cash FlowCr | 0 | 0 | 0 | -1 |
| Financing Cash FlowCr | 0 | 3 | -2 | 0 |
| Net Cash FlowCr | 0 | 0 | 0 | 0 |
Strengths & Risks
Strengths · as stated in the DRHP
- Multi-Channel presence and extensive and well-established sale and distribution network.
- Wide Range of Products with distinct variants.
- Purity, Health & Wellness Focus.
- Empowered by Women: A symbol of strength and dedication.
- Experienced Promoters and professional management team.
Strategies · as stated in the DRHP
- Establishment of new Manufacturing Unit at Bachhasar, Rajasthan and Rationalization of Manufacturing Operations.
- Expand Sales through empanelment with Kendriya Police Kalyan Bhandar (KPKB)
- Expand our product portfolio.
- Driving growth with influencer partnerships.
- Deepening Engagement with Renowned Brand Owner.
- Leveraging the Company Website as a Strategic Direct-to-Consumer Channel.
Risks · as stated in the DRHP
- The company's business is dependent on a limited number of customers, and the loss of one or more significant customers may adversely affect its business, results of operations, and financial condition.
- The company's business depends on a limited number of suppliers for raw materials, the company does not have long-term supply agreements with them, and any disruption in supply availability or increase in raw material costs may adversely affect its business operations and financial performance.
- The company's business depends on an effective and diversified sales and distribution network across multiple channels, and any disruption, inefficiency, or underperformance in one or more channels may adversely affect the company's business operations and financial performance.
- The company's business and revenue are significantly dependent on its key brands, particularly "Vishal," "Zhakaas," and "Rozana." Any decline in their market acceptance or brand perception, or the inability to expand the company "Papadmalji" brand, may adversely affect its business, results of operations, and financial condition..
- The Company operations requires significant amount of working capital for a continuing growth. The company's inability to meet its working capital requirements may adversely affect the company's results of operations.
- The company's business requires it to obtain and renew certain registrations, licenses and permits from government and regulatory authorities and the failures to obtain and renew or non-receipt of them in a timely manner may adversely affect the company's business operations.